London: UK-based adult entertainment site OnlyFans has reported that users spent $5.55 billion in total in the fiscal year ended November 30, 2022, up 16 per cent from the previous year, with creators pocketing nearly $4.5 billion of that.
According to a regulatory filing on Thursday by the parent firm Fenix International, the company generated a pre-tax net profit of $525 million for the most recent fiscal year, up 21 per cent on an annual basis, reports Variety.
OnlyFans owner Leonid Radvinsky received $338 million in dividends for the fiscal year 2022, up 19 per cent from $284 million the previous year.
According to the filing, OnlyFans had 3.18 million registered creators as of November 2022, a 47 per cent increase, while the number of users increased 27 per cent to 238.8 million.
“The group anticipates that its commitment to being ‘creator first’ and providing the safest social media platform will provide a strong foundation to continue to drive revenue growth, profitability and brand awareness in the coming years,” the filing said.
Moreover, the report mentioned that OnlyFans creators keep 80 per cent of the revenue generated by their accounts, with the company taking a 20 per cent share.
OnlyFans’ net revenue for the fiscal year 2022 was $1.09 billion, with 67 per cent coming from the US, 15 per cent from Europe and the UK, and 18 per cent coming from the rest of the world.
In July, the company named Keily Blair, previously chief strategy and operations officer, as CEO, succeeding Mumbai-born Amrapali “Ami” Gan, who had been CEO since December 2021.
OnlyFans was established in 2016. It allows paid subscribers access private photos, videos, and posts from adult models, celebrities, and social media personalities.
–IANS
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